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Bill

SB 2

PEN CD-TIER 2 BENEFITS

104th Regular Session Introduced by Mary Edly-Allen and 8 co-sponsors

Illinois bill modifies Tier 2 pension benefits for public employees, affecting retirement security and state pension fund obligations.

Added as Co-Sponsor Sen. Doris Turner
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Bill Summary · SB 2

Legislative bill overview

SB 2 proposes to establish or modify Tier 2 benefits within Illinois's Public Employees' Retirement System (PERF). The bill addresses pension benefits for public employees enrolled in the second tier of the retirement plan, which typically features different contribution rates and benefit formulas than Tier 1. The specific provisions are not detailed in the available action history.

Why is this important

Pension benefits directly affect the retirement security of public employees and the long-term fiscal obligations of Illinois municipalities and the state. Illinois faces substantial pension funding challenges, making any modification to benefit structures consequential for both employee compensation and state budgets. Changes to Tier 2 benefits could influence hiring practices and workforce stability in public sector employment.

Potential points of contention

  • Fiscal impact: Whether modifications reduce or increase long-term pension liabilities and how costs are distributed between employees, employers, and taxpayers
  • Retroactivity concerns: Whether changes apply only to new enrollees or affect current Tier 2 members, raising questions about benefit security and vested rights
  • Adequacy of retirement income: Whether adjustments to benefits compromise retirement security for public workers or address sustainability concerns

Compiled from official sources — confirm details with the bill’s official record.

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